Nebraska Creates Banking Charter For Crypto Services

Law360 (May 27, 2021, 7:17 PM EDT) -- Nebraska state-chartered banks can now offer certain banking services for digital assets after Gov. Pete Rickett signed into law a provision creating a bank charter for companies that hold cryptocurrencies.

Legislative Bill 649, dubbed the Nebraska Financial Innovation Act, defines "digital asset depository institutions" as banks or financial institutions that hold certain digital assets. Under the new law, existing state-chartered banks can establish and operate departments focused on cryptocurrency services, and new businesses can gain a state banking charter as digital asset depositories.

Gov. Rickett signed the bill on Wednesday after it cleared a final vote in the legislature May 20....

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